Thin alumina trade due to uncertain future of aluminium

Platts confirms that despite the high offers from refiners, the domestic alumina price in China was pretty much constant on Tuesday as per reports from market participants.

On Monday, the ex-Henan offers stood at Yuan 2,800-2,900/mt in cast to partial credit terms. The offer from the neighboring Shanxi was recorded at Yuan 2,800-2,850/mt cash. In Guangxi, the offer had risen from Monday’s Yuan 2,500-2,600/mt to 2,600-2,650/mt on Tuesday.

The alumina price was seen to be climbing after the Chalco Henan refinery shut down a few days ago due to a broken red mud pool. This has taken a fair amount of alumina off the market pushing the price a little more.

However, trade is thin as it is mostly offers floating around in the market. Everyone is cautious about how aluminium prices will pan out in the future which will have a direct impact on the alumina process.

On the Shanghai Futures Exchange, the front-end aluminium contract for October closed on Yuan 14,100/mt on Tuesday which is lower from last week’s Yuan 14,305/mt and Yuan 14,330/mt of last month.

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